La Caroza Group
He wants his land and crops to have better technical assistance so that he can have better harvests and obtain better profits, as he has future plans to buy two more manzanas (Central American unit of land measurement) of land already cultivated with coffee.
He has applied for a group loan in order to buy fertilizers and pay for labor, so that he can provide good maintenance to his coffee, corn, and bean crops.
The group is called "La Caroza" and is made up of 12 members who in the photo are identified as follows: on the left, standing, is Francisco, the coordinator; next to him is Luis, Yessica, Victoria, José and Santos. On the left, crouching, is Constantino, Neptali, Santos, Zoila, Simeón and José Antonio on the right. They all live in the same community and work in agriculture.
The total group loan is for 73,000 lempiras, and they will invest it in maintaining their crops.
About Organización de Desarrollo Empresarial Femenino Financiera, S.A.This loan is administered by Organización de Desarrollo Empresarial Femenino Financiera, S.A. (ODEF), a Kiva Field Partner in Honduras. A leader in the microfinance sector since 1985, ODEF strives to combat poverty by offering a wide array of financial services to low-income men and women. The organization works with its parent NGO, ODEF OPD, to provide training and technical assistance to impoverished microentrepreneurs. By incorporating the entire family unit in this process, ODEF OPD aims to improve the standard of living through the creation of profitable enterprises. Visit ODEF’s partner page for more information.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid